According to the digital asset tracker Lookonchain, Metalpha, a prominent crypto wealth management firm based in Hong Kong, has deposited $77.55 million worth of Ethereum (ETH) to Binance in recent days.
Over several transactions, Metalpha transferred a total of 33,589 ETH to the leading global crypto exchange, which included a significant transfer of 10,000 ETH valued at $23.45 million on Monday.
As per Lookonchain, the firm still possesses 51,300 ETH, amounting to roughly $120 million.
The crypto tracker indicates that other Ethereum whales are also on an accumulation spree.
“A savvy whale acquired 5,000 ETH ($11.46 million) at the bottom again within the last two days! Previously, this whale bought 5,200 ETH at an average price of $1,322 in November 2022 and sold it at an average price of $2,093 in January, December 2023, and January 2024, netting over $4 million!”
As of now, Ethereum is trading at $2,378. The second-largest crypto asset by market cap has risen by 1.5% in the last 24 hours.
Additionally, Lookonchain reports that a Solana whale sold 20,000 SOL for $2.66 million on Monday. Since the year’s start, the address has divested a total of 715,000 SOL worth $102 million, yet retains 1.84 million SOL valued at $246 million staked, according to the tracker.
SOL is currently priced at $135.57. The fifth-ranked crypto asset by market cap has seen an increase of more than 0.5% in the past 24 hours.
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